Hongyuan Huifu Venture Capital Co., Ltd. is a wholly owned subsidiary of Hongyuan Securities Incorporated Company, which is pilot institution of direct equity investment by broker approved by China Securities Regulatory Commission. The company was established in March 2010 with RMB 300 million of registered capital and RMB 500 million of authorized capital. Its registered place is Beijing.

Hongyuan Securities Incorporated Company (stock code: 000562) is a national, comprehensive, and innovative securities broker approved by China Securities Regulatory Commission, as well as one of first batch of sponsors of China. The company has comprehensive qualifications for all kinds of securities business. The biggest shareholder of Hongyuan Securities is China Jianyin Investment. In June 2012, Hongyuan Securities completed its directional seasoned offerings. Its net asset is RMB 15 billion. China Jianyin Investment is a subsidiary under Central Huijin Investment Ltd. "Central Huijin" is a state-owned investment company incorporated in accordance with China's Company Law. It is mandated to exercise the rights and the obligations as an investor in major state-owned financial enterprises, on behalf of the State, as authorized by the State Council. ( http://www.huijin-inv.cn/hjen/aboutus/aboutus_2008.html?var1=About )

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of China Recycling Energy Corp. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.